Wal-Mart says company winning more affluent shoppers

Wal-Mart’s emphasis
on low prices is keeping lower-income customers loyal and attracting more
affluent shoppers who usually spend elsewhere, according to Eduardo
Castro-Wright, CEO of the retailer’s U.S. division. He hopes to keep those
customers once the economy turns around by capturing their imagination with the
“store experience.”

Eduardo Castro-Wright, CEO of Wal-Mart’s U.S. division, told a New York gathering of analysts at a Lehman Bros. retail conference that the company’s emphasis on low prices is keeping lower-income customers loyal and attracting more affluent shoppers who usually spend elsewhere.